Adam Smith: Theory Of Growth And International Trade
Number of pages:
7
ABSTRACT:
7 pages in length. Adam Smith, considered quite universally to be the father of contemporary economics (Rouse, 1995), grew up under the watchful eye of his widowed mother and attended college on a scholarship. Clearly immersed in the principles of philosophy and logic, he ultimately turned his talents toward economics where he cultivated his popular - if not greatly debated - economic theory of growth and international trade as being founded upon the division of labor, a reality Smith (1991) claims is integral to the quest for wealth and the growth of a society. The greatest turning point in his life is unarguably when he published Wealth of Nations, which inevitably cast him 'as the fountainhead of contemporary economic thought' (The Library of Economics and Liberty, 2002). Bibliography lists 15 sources.
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